Jun 2026 (Q2 FY26) — Jul 23, 2026
Summit Therapeutics Q2 FY26 — Positive HARMONi OS Data and HARMONi-3 Progress
Read the full callSummit Therapeutics earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | Quarterly, as filed | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | -216 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
7 of 7 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| HARMONi-3 non-squamous cohort enrollment completion | Complete non-squamous cohort enrollment in the second half of 2026 | Dec 2025 | our global Phase III HARMONi-3 all-comers trial evaluating ivonescimab with chemo in frontline non-small cell lung cancer has completed enrollment in both the squamous and non-squamous cohorts. | Achieved |
| GSK B7-H3 ADC collaboration trial initiation (first patient dosed) | Expected to begin dosing patients in mid-2026 | Dec 2025 | Our GSK collaboration evaluating ivonescimab in multiple solid tumor settings in combination with their B7-H3 ADC, is expected to enroll its first patient later this quarter. | Delayed |
| Arcus Biosciences (casdatifan) collaboration initial data | Initial data expected to be generated by mid-2027 | Jun 2026 | We expect initial data from this collaboration to be generated by mid next year. | New |
7 of Summit Therapeutics Inc.'s 14 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 11 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $19.16 on 22 Oct 2025 → $15.47. High $26.38 (21 Apr 2026), low $12.43 (20 Aug 2026).
Overview
Guidance
7 of 7 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| HARMONi-3 non-squamous cohort enrollment completion | Complete non-squamous cohort enrollment in the second half of 2026 | Dec 2025 | our global Phase III HARMONi-3 all-comers trial evaluating ivonescimab with chemo in frontline non-small cell lung cancer has completed enrollment in both the squamous and non-squamous cohorts. | Achieved |
| GSK B7-H3 ADC collaboration trial initiation (first patient dosed) | Expected to begin dosing patients in mid-2026 | Dec 2025 | Our GSK collaboration evaluating ivonescimab in multiple solid tumor settings in combination with their B7-H3 ADC, is expected to enroll its first patient later this quarter. | Delayed |
| Arcus Biosciences (casdatifan) collaboration initial data | Initial data expected to be generated by mid-2027 | Jun 2026 | We expect initial data from this collaboration to be generated by mid next year. | New |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 14 tracked commitments, with each call’s wording and source.
Call summaries
Summit Therapeutics Q2 FY26 — Positive HARMONi OS Data and HARMONi-3 Progress
Read the full callEvery analysed call
Financials
Net profit, year on year: +62% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | — | — | — | — | — | — |
| Operating profit | -58 | -66 | — | — | — | — | — | — |
| Other income | 5 | 13 | 4 | 3 | 2 | 6 | 6 | 5 |
| Interest | 2 | 0 | 0 | 0 | 0 | 0 | — | — |
| Net profit | -56 | -61 | -63 | -566 | -232 | -219 | -189 | -216 |
| EPS ($ per share) | -0.08 | — | -0.09 | -0.76 | -0.31 | — | -0.24 | -0.28 |
| Line item | Jan 2019 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | — | 1 | 1 | 1 | 2 | 7 | 7 | 8 |
| Reserves | — | -158 | -211 | -300 | -378 | -993 | -1,215 | -2,294 |
| Total liabilities | — | 17 | 23 | 30 | 538 | 125 | 47 | 92 |
| Fixed assets | — | 1 | 1 | 1 | 1 | 0 | 0 | 1 |
| Investments | — | — | — | — | 0 | 115 | 307 | 488 |
| Total assets | — | 96 | 102 | 113 | 664 | 203 | 436 | 751 |
| Line item | Jan 2019 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -35 | -21 | -48 | -73 | -42 | -77 | -142 | -323 |
| Cash from investing | -0 | -0 | -0 | -0 | -1 | -588 | -205 | -174 |
| Cash from financing | 45 | 50 | 51 | 78 | 620 | 87 | 381 | 618 |
| Net cash flow | 7 | 29 | 3 | 5 | 577 | -577 | 34 | 120 |
| Capital expenditure | -0 | -0 | -0 | -0 | -1 | -0 | -0 | -1 |
| Free cash flow | -35 | -21 | -49 | -73 | -42 | -77 | -142 | -324 |
7 filings between Jun 4, 2026 and Oct 8, 2026.
Purchases
$103.62M
6 purchases by 3 insiders
Sales
None
No insider sold shares.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DUGGAN ROBERT W | $51.45M | — | Jun 12, 2026 |
| Zanganeh Mahkam | $51.45M | — | Jun 12, 2026 |
| Soni Manmeet Singh | $722.3K | — | Jun 4, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 8, 2026 | Anand Bhaskar Chief Accounting Officer | Award | 100,000 | $0 |
| Jun 12, 2026 | Zanganeh Mahkam Co-Chief Executive Officer | Purchase | 3,810,000 | $49.99M |
| Jun 12, 2026 | DUGGAN ROBERT W Co-Chief Executive Officer | Purchase | 3,810,000 | $49.99M |
| Jun 4, 2026 | Zanganeh Mahkam Co-Chief Executive Officer | Purchase | 100,000 | $1.46M |
| Jun 4, 2026 | Soni Manmeet Singh COO and CFO | Purchase | 25,000 | $361.5K |
| Jun 4, 2026 | Soni Manmeet Singh COO and CFO | Purchase | 25,000 | $360.8K |
| Jun 4, 2026 | DUGGAN ROBERT W Co-Chief Executive Officer | Purchase | 100,000 | $1.46M |
| Oct 21, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Award | 266,808 | $5.00M |
| Oct 21, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Purchase | 26,680 | $500.0K |
| Oct 21, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Award | 266,808 | $5.00M |
| Oct 21, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Purchase | 26,680 | $500.0K |
| Oct 21, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Award | 13,980,789 | $262.00M |
| Oct 21, 2025 | Soni Manmeet Singh COO and CFO | Award | 53,361 | $1000.0K |
| Oct 21, 2025 | Anand Bhaskar Chief Accounting Officer | Award | 26,680 | $500.0K |
| Oct 21, 2025 | Xia Yu Director | Purchase | 533,617 | $10.00M |
| Oct 21, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Award | 13,980,789 | $262.00M |
| Sep 11, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Purchase | 5,000 | $90.3K |
| Sep 11, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Purchase | 5,000 | $90.3K |
| Sep 10, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Purchase | 333,394 | $5.89M |
| Sep 10, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Purchase | 333,394 | $5.89M |
| May 30, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Option exercise | 74,545 | $196.8K |
| May 30, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Option exercise | 74,545 | $196.8K |
| Apr 8, 2025 | Zanganeh Mahkam Co-Chief Executive Officer | Option exercised | 3,985,055 | $6.30M |
| Apr 8, 2025 | DUGGAN ROBERT W Co-Chief Executive Officer | Option exercised | 3,985,055 | $6.30M |
| Oct 3, 2024 | Zanganeh Mahkam Co-Chief Executive Officer | Option exercised | 315,681 | $498.8K |
| Sep 11, 2024 | Soni Manmeet Singh COO and CFO | Award | 44,052 | $1000.0K |
| Sep 11, 2024 | Huber Jeff Director | Award | 44,052 | $1000.0K |
| Sep 11, 2024 | DUGGAN ROBERT W Co-Chief Executive Officer | Award | 3,325,991 | $75.50M |
| Sep 11, 2024 | Anand Bhaskar Chief Accounting Officer | Award | 22,026 | $500.0K |
| Sep 11, 2024 | Zanganeh Mahkam Co-Chief Executive Officer | Award | 44,052 | $1000.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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